Bellevue office buildings sold for $43 million

More than half of Corporate Campus East, a suburban office park north of downtown Bellevue, was sold Tuesday for $43.4 million, county records show.

The Illinois teachers’ retirement system sold two parcels consisting of four buildings and adjacent parking lots to Realty Associates Fund X LP, records show. The fund is an affiliate of Boston-based TA Associates Realty, a private real estate adviser that says it manages 91 million square feet of commercial real estate nationwide.

The four buildings — Buildings E, F, G and H — total about 154,000 square feet and are 9 percent vacant, according to OfficeSpace.com. An affiliate of the Illinois teachers’ retirement system acquired the property in 1984 for $3.9 million and developed the office buildings.

The office park is near State Highway 520 and west of Interstate 405, minutes from downtown Bellevue.

To the west, Corporate Campus East — Buildings A, B and C — was not part of Tuesday’s sale. The Illinois State Board of Investment owns those and acquired them in 2006 from an affiliate of Seattle-based HAL Real Estate Investments for $38.6 million, records show.